IDGLOBAL Announces Financials for the First Three Quarters of 2007
KELOWNA, British Columbia, January 11, 2008 - (BUSINESS WIRE) - IDGLOBAL (Pink Sheets: IDGJ - News) has completed and filed its financial statements for the first three quarters of 2007. These statements can be viewed in their entirety at www.pinksheets.com. Financial results for Q4 2007 as well as audited full year 2007 financial statements shall be provided in Q1 2008.
For the first three quarters of 2007, IDGLOBAL reported revenue of $421,509 compared to $55,525 for 2006, a 759% increase. Total expenses were reported as $821,409 compared to $476,609 for 2006. The increase in expenses for 2007 is a direct result of an aggressive tradeshow and conference schedule and the addition of employees to facilitate the growth in its client base and sales infrastructure. Revenue is anticipated to show further increases in the final quarter of 2007 and into fiscal year 2008 as new clients are added and projects are implemented.
For fiscal year 2008, IDGLOBAL anticipates a break-even financial condition. Financial results may vary given successful client acquisitions, however, IDGLOBAL management prefers a conservative opinion in providing the markets with forward looking financial guidance. IDGLOBAL management shall update its financial guidance to investors as material events occur.
IDGLOBAL would also like to announce that Mr. Marc Hamilton, the company's COO, has taken on the role as the Chief Financial Officer (CFO) as well and shall over see the financial infrastructure and reporting for IDGLOBAL. Mr. Hamilton's experience in this idiom is extensive and provides IDGLOBAL with the expertise required for continuous financial disclosure as required to be a reporting OTC:BB issuer.
IDGLOBAL shall update investors as to the status of its OTC:BB application as it develops.
About IDGLOBAL Corp. (www.idglobalcorp.com)
IDGLOBAL provides a range of leading technologies specifically designed to provide private enterprise and governments 100% solutions to their Counterfeiting infections and Loss Prevention / Anti-Theft security programs. IDGLOBAL's Nano-Molecular Markers / Tags? are specifically designed for global anti-counterfeiting applications and its IDFORENSIX? products provide Loss Prevention / Anti-Theft solutions for the annual $800 billion Anti-Counterfeiting and Loss Prevention markets. IDGLOBAL is a forward looking company with a robust R&D program and product development and integration program for the purpose of providing next generation Nano based and leading edge Anti-Counterfeiting products and Security solutions.
Nano-Molecular, Nano-Molecular Markers, Nano-Molecular Tags and IDFORENSIX are registered trademarks of IDGLOBAL Corp, All Rights Reserved.
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of IDGLOBAL Corp. to be materially different from the statements made herein.
Contact:
Daryl Regier, President & CEO
Philip Viggiani, VP, Sales Marketing
Marc Hamilton, COO & CFO
Investor Relations Toll Free: 1-866-922-4345
Phone: 250-862-8933
Fax: 250-862-8322
www.idglobalcorp.com